Your answer is incorrect. Try again. Sunland Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. The corporation's books disclosed the following. Beginning inventory 83,100 Sales revenue Sales returns Rate of gross profit on net sales $633,100 25,900 Purchases for the year 419,600 Purchase returns 30,800 30% Merchandise with a selling price of $19,100 remained undamaged after the fire. Damaged merchandise with an original selling price of $14,400 had a net realizable value of $5,700. Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage. Amount of the loss 4,380